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Fitch ups outlook on Banco Múltiple BDI to positive

Fitch Ratings on March 22 affirmed Banco Múltiple BDI SA's long- and short-term national ratings at BBB+(dom) and F2(dom), respectively, and revised the outlook to positive from stable.

The new outlook reflects Banco Múltiple BDI's resilient financial performance and adequate provision levels, the latter of which have steadily strengthened over the past three years, within a highly competitive environment.

Fitch notes that although the Dominican bank's base capital indicator of 12.8% as of December 2018 is lower than the industry average of 16.7%, it still considers the capitalization as adequate, further supported by solid profitability and shareholder commitment, as well as ample reserve coverage.

The bank's profitability also improved over the past three years, with operating income standing at 2.4% of weighted assets in 2018, compared to the industry average of 2.6%, and to the bank's 2017 figure of 1.9%.